TAX CREDITS

mary · Joined: 07 Jun 2007 Posts: 3

I have a debt to the Inland Revenue for overpayment of tax credits – I have looked at the possibility of proposing and IVA as I have several unsecured debts totalling approximately £20,000 – could the debt to the Revenue to be included in the IVA if I was propose one to my creditors?

John · Posted: Thu Jun 07, 2007 2:21 pm Post subject:

Hello, Mary.

We and other Insolvency Practitioners can deal with debts which are owed to HM Revenue and Customs "HMRC" of all kinds.

The problem with Tax Credit overpayments is they may recover the money owed by suspending your current Tax Credits until the money you owe them is repaid. If your Tax Credits have ceased (i.e. your youngest child has reached employment age and is not in full-time education) we will be able to class HMRC as an unsecured creditor without any problems.

My recommendation in your case is to complete our Debt Analyser on our Home Page. We will then be able to contact you to discuss the best resolution to your situation.

I hope this helps you.
John McKeown - ClearDebt Insolvency Advisor

mary · Joined: 07 Jun 2007 Posts: 3

thanks john
i know this sounds cheeky but is there any chance that i could call you directly in order to ask you a few other things??? before i think about what to do next?

John · Posted: Fri Jun 08, 2007 8:10 am Post subject:

That would be no problem.

Call me on 08000 192095 when it's convenient.

Best regards.
John McKeown

mary · Joined: 07 Jun 2007 Posts: 3

I'm sorry i never really got the chance to thank you for you help on friday!

John · Posted: Mon Jun 11, 2007 7:53 am Post subject:

It was no problem at all. I hope you found it helpful.

Please call me once you've had time to think about your available options, or alternatively I could call you.

Kind regards.
John